Paperwork Reduction Act Submission
Please read the instruction before completing this form. For additional forms or assistance in completing this forms, contact your agency’s Paperwork Reduction Officer. Send two copies of this form, the collection instrument to be reviewed, the Supporting Statement, and any additional documentation to: Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 Seventeenth St. NW, Washington, DC 20503.
1. Agency/Subagency Originating Request: U.S. Department of Housing and Urban Development Office of Single Family Asset Management
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2. OMB Control Number: a. 2502-0060
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b. None
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3. Type of information collection: (check one)
collection for which approval has expired
for which approval has expired
For b-f, note item A2 of Supporting Statement instructions. |
4. Type of review requested: (check one)
5. Small entities: Will this information collection have a significant economic impact on a substantial number of small entities? Yes No 6. Requested expiration date: a. Three years from approval date b. Other (specify)
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7. Title:
Monthly Delinquent Loan Reports
8. Agency form number(s): (if applicable)
HUD-92068-A
9. Keywords:
Housing, Mortgage, Foreclosures, Loan Defaults
10. Abstract:
Information for the evaluation and monitoring of origination and servicing performance by HUD-approved mortgagees. Used to identify potential areas of risk to the insurance fund.
11. Affected public: (mark primary with “P” and all others that apply with “X”) a. Individuals or households e. Farms b. P Business or other for-profit f. Federal Government c. Not-for-profit institutions g. State, Local or Tribal Government |
12. Obligation to respond: (mark primary with “P” and all others that apply with “X”) a. Voluntary b. Required to obtain or retain benefits c. P Mandatory |
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13. Annual reporting and recordkeeping hour burden: a. Number of respondents 240 b. Total annual responses 2880 Percentage of these responses collected electronically 100% c. Total annual hours requested 7,200 d. Current OMB inventory 7,200 e. Difference (+,-) 0 f. Explanation of difference: 1. Program change: 0 2. Adjustment: |
14. Annual reporting and recordkeeping cost burden: (in thousands of dollars) Do not include costs based on the hours in item 13. a. Total annualized capital/startup costs $0.00 b. Total annual costs (O&M) $0.00 c. Total annualized cost requested $0.00 d. Total annual cost requested $0.00 e. Current OMB inventory $0.00 f. Explanation of difference: 1. Program change: 2. Adjustment: |
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15. Purpose of Information collection: (mark primary with “P” and all others that apply with “X”) a. Application for benefits e. X Program planning or management b. Program evaluation f. Research c. General purpose statistics g. P Regulatory or compliance d. Audit |
16. Frequency of recordkeeping or reporting: (check all that apply) a. Recordkeeping b. Third party disclosure c. Reporting: 1. On occasion 2. Weekly 3. Monthly 4. Quarterly 5. Semi-annually 6. Annually 7. Biennially 8. Other (describe)
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17. Statistical methods: Does this information collection employ statistical methods? Yes No
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18. Agency contact: (person who can best answer questions regarding the content of this submission) Name: Robert Juenger Phone: 202-708-1672 ext.4966
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19. Certification for Paperwork Reduction Act Submissions
On behalf of the U.S. Department of Housing and Urban Development, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9.
Note: The text of 5 CFR 1320.9, and the related provisions of 5 CFR 1320/8(b)(3) appears at the end of the instructions. The certification is to be made with reference to those regulatory provisions as set forth in the instructions.
The following is a summary of the topics, regarding the proposed collections of information that the certification covers:
It is necessary for the proper performance of agency functions;
It avoids unnecessary duplication;
It reduces burden on small entities;
It uses plain, coherent, and unambiguous terminology that is understandable to respondents;
Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
It indicates the retention periods for recordkeeping requirements;
It informs respondents of the information called for under 5 CFR 1320.8(b)(3):
Why the information is being collected;
Use of the information;
Burden estimate;
Nature of response (voluntary, required for a benefit, or mandatory);
Nature and extent of confidentiality; and
Need to display currently valid OMB control number;
It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to collected (see note in item 19 of the instructions);
It uses effective and efficient statistical survey methodology; and
It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item below and explain the reason in item 18 of the Supporting Statement.
Signature of Program Official:
X Michael F. Hill, Deputy Assistant Secretary for Operations, HR |
Date: |
Supporting Statement for Paperwork Reduction Act Submissions
(HUD-92068-A)
A. Justification:
1. Section 204 of the National Housing Act (PL.479, 48 Stat.1246. 12 U.S.C. 1701, et seq.) authorizes the payment of insurance benefits to the mortgagee upon conveyance of a property to the Secretary of the Department of Housing and Urban Development (HUD). The regulations at 24 CFR 203.332, 203.439 and 203.468 require mortgagees to report the status of all insured mortgages that are 90 or more days delinquent.
Mortgagees are required to begin their delinquency reporting of all loans when the monthly payment is due but not paid by the last day of the month. This brings FHA’s requirements closer to those of Fannie Mae, Freddie Mac, the Mortgage Bankers Association, and industry standards for delinquency reporting requirements. FHA is in a better position to integrate itself, should it choose to do so, into a single platform for industry-wide default data reporting. Mortgagees will understand references to payments due and unpaid rather than being required to count days from the due date.
HUD believes this will contribute to FHA’s efforts in protecting the financial integrity of the FHA Mutual Mortgage Insurance Fund. This will result in the Department’s receiving more recent and timely delinquency and default information, thereby increasing FHA’s ability to forecast default volume, future defaults, and potential insurance losses. More timely information will also enable FHA to better monitor its loss mitigation program. This is important since FHA insures 100 percent of a mortgage loan as compared to private mortgage insurers that insure only 10 to 20 percent of a loan.
2. This information is submitted electronically by mortgagees and is used to report information into HUD’s Single Family Default Monitoring System (SFDMS), which provides reports that reflect default and foreclosure information.
The data compiled from the information submitted provides a management tool that assists the Department in the evaluation and monitoring of origination and servicing performance by HUD-approved mortgagees. Of particular significance to HUD is the need to identify potential areas of risk to the insurance fund.
3. Since March 31, 1999, all loan default and delinquency information is submitted to HUD through electronic data interchange (EDI) or by use of HUD’s interactive web application, the FHA Connection. Because the industry has found it useful to maintain copies of these forms, HUD-92068-A, the expiration date of OMB approval will be displayed on the forms and mortgagees will be able to download copies from HUD’s web site. However, because all reporting is electronic, the forms are for information use only.
4. There is no duplication in this data collection. Data is submitted only to a central point located in HUD Headquarters.
5. For some smaller mortgagees that are not EDI users, they may schedule an automated report and key the summary information into HUD’s web application, the FHA Connection, to transmit the information to HUD.
6. The Department must maintain the current level of reporting (monthly) for program monitoring purposes. All of the data submission in now accomplished via electronic means. Reporting of loan defaults and delinquencies are now required by regulations. If the increase in reporting is not approved, HUD will be less able to predict insurance fund losses.
7. Certain data in this information collection is reported monthly and must remain monthly for program integrity purposes. The monthly reporting is required to safeguard the taxpayers’ interest and for program monitoring purposes.
8. A notice was published in the Federal Register on December 13, 2007 page 70879. No comments were received.
9. No gifts or any other remuneration is made to respondents.
10. Neither Federal regulations nor agency policy promise confidentiality to the respondents who are mortgagees and members of the mortgage banking industry, however, all HUD’s systems undergo annual system security screening where HUD ensures that data contained herein is protected against unauthorized use.
11. This program does not deal with items of a sensitive nature.
The burden for each respondent should be minimal as this information is largely automated on the lenders’ servicing systems and is forwarded to HUD electronically by most mortgagees via EDI and through the FHA Connection. In essence, the mortgagee does little more than schedule an automated data submission and confirms that it was sent when due.
Information Collection |
Number of Respondents |
Frequency of Response |
Responses Per Annum |
Burden Hour Per Response |
Annual Burden Hours |
Hourly Cost Per Response |
Annual Cost
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HUD-92068-A Submitted via EDI
Submitted via FHAC |
120
120 |
Once per Month
Once per Month |
1440
1440 |
1.50
3.50 |
2160
5040 |
$15.00
$15.00 |
$32,400
$75,600
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TOTALS |
240 |
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2880 |
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7200 |
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$108,000 |
The hourly cost is based on an average clerical salary of approximately $30,000 per year.
13. There are no additional costs to the respondents.
14. There is no cost to the Federal government. The process has been automated and all data is received and maintained electronically.
15. This is a revision of a currently approved collection. The number of FHA approved mortgagees (loan servicers) has dropped considerably through company acquisitions and mergers. Many firms have gotten out of the FHA business and sold their portfolios to other FHA approved mortgagees. This process is still continuing despite recent increased interest in FHA loans due to the sub prime loan problems. The burden hours remain the same due to the combination of direct electronic reporting by media transmission via EDI and secondary reporting through a website, the FHA Connection. The mortgagees also have to report increased data with the inclusion of the 30 and 60 day delinquent loans, which is different from the ICR from 2005.
16. There are no plans to publish the results of the information collected.
17. Because the industry has found it useful to maintain copies of these forms, HUD-92068-A, the expiration date of OMB approval will be displayed on the forms and mortgagees will be able to download copies from HUD’s web site. However, because all reporting is electronic, the forms are for information use only.
18. There are no exceptions to the certification statement identified in item 19 of the OMB 83-I.
B. Collections of Information Employing Statistical Methods:
No statistical methods are employed in this information collection.
OMB 83-I 10/95
| File Type | application/msword |
| File Title | Paperwork Reduction Act Submission |
| Author | WAYNE EDDINS |
| Last Modified By | Preferred User |
| File Modified | 2008-06-19 |
| File Created | 2008-02-28 |